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Is Glory Sun Land Group Limited's (HKG:299) 4.6% ROE Worse Than Average?
Is Glory Sun Land Group Limited's (HKG:299) 4.6% ROE Worse Than Average?
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). By way of learning-by-doing, we'll look at ROE to gain a better understanding of Glory Sun Land Group Limited (HKG:299).
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
Check out our latest analysis for Glory Sun Land Group
How Is ROE Calculated?
ROE can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Glory Sun Land Group is:
4.6% = HK$220m ÷ HK$4.8b (Based on the trailing twelve months to December 2021).
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every HK$1 of its shareholder's investments, the company generates a profit of HK$0.05.
Does Glory Sun Land Group Have A Good ROE?
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As is clear from the image below, Glory Sun Land Group has a lower ROE than the average (6.0%) in the Entertainment industry.
SEHK:299 Return on Equity April 22nd 2022That certainly isn't ideal. That being said, a low ROE is not always a bad thing, especially if the company has low leverage as this still leaves room for improvement if the company were to take on more debt. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. To know the 4 risks we have identified for Glory Sun Land Group visit our risks dashboard for free.
How Does Debt Impact ROE?
Virtually all companies need money to invest in the business, to grow profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
Glory Sun Land Group's Debt And Its 4.6% ROE
Glory Sun Land Group clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.68. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
Conclusion
Return on equity is one way we can compare its business quality of different companies. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt.
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So I think it may be worth checking this free this detailed graph of past earnings, revenue and cash flow.
But note: Glory Sun Land Group may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). By way of learning-by-doing, we'll look at ROE to gain a better understanding of Glory Sun Land Group Limited (HKG:299).
许多投资者仍在学习在分析股票时可能有用的各种指标。这篇文章是为那些想了解股本回报率(ROE)的人准备的。通过边做边学的方式,我们将看到净资产收益率,以更好地了解荣耀太阳置地集团有限公司(HKG:299)。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
净资产收益率,即股本回报率,是评估一家公司从股东那里获得投资回报的有效程度的有用工具。简而言之,它是用来评估一家公司相对于其权益资本的盈利能力。
Check out our latest analysis for Glory Sun Land Group
查看我们对荣耀太阳置地集团的最新分析
How Is ROE Calculated?
净资产收益率是如何计算的?
ROE can be calculated by using the formula:
可使用以下公式计算净资产收益率:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润?股东权益
So, based on the above formula, the ROE for Glory Sun Land Group is:
因此,根据上述公式,荣耀太阳置地集团的净资产收益率为:
4.6% = HK$220m ÷ HK$4.8b (Based on the trailing twelve months to December 2021).
4.6%=2.2亿港元×48亿港元(根据截至2021年12月的过去12个月计算)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every HK$1 of its shareholder's investments, the company generates a profit of HK$0.05.
“报税表”是过去12个月的税后收入。因此,这意味着股东每投资1港元,公司就会产生0.05港元的利润。
Does Glory Sun Land Group Have A Good ROE?
荣耀阳光置地集团的净资产收益率好吗?
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As is clear from the image below, Glory Sun Land Group has a lower ROE than the average (6.0%) in the Entertainment industry.
确定一家公司是否拥有良好的股本回报率的一个简单方法是将其与所在行业的平均水平进行比较。这种方法的局限性是,一些公司与其他公司有很大的不同,甚至在相同的行业分类中也是如此。从下图可以清楚地看到,荣耀太阳置地集团的净资产收益率低于娱乐业的平均水平(6.0%)。
That certainly isn't ideal. That being said, a low ROE is not always a bad thing, especially if the company has low leverage as this still leaves room for improvement if the company were to take on more debt. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. To know the 4 risks we have identified for Glory Sun Land Group visit our risks dashboard for free.
这当然不是理想的情况。话虽如此,低ROE并不总是一件坏事,特别是如果公司的杠杆率较低,因为如果公司承担更多债务,这仍有改进的空间。考虑到涉及的风险,高债务水平和低ROE的公司是我们希望避免的组合。要了解我们为荣耀太阳置地集团确定的4个风险,请免费访问我们的风险仪表板。
How Does Debt Impact ROE?
债务对净资产收益率有何影响?
Virtually all companies need money to invest in the business, to grow profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
几乎所有的公司都需要资金来投资于业务,以增加利润。投资的现金可以来自上一年的利润(留存收益)、发行新股或借款。在第一种和第二种选择的情况下,净资产收益率将反映现金用于增长的这种情况。在后一种情况下,增长所需的债务将提高回报,但不会影响股东权益。因此,债务的使用可以提高净资产收益率,尽管打个比方说,在暴风雨天气的情况下会有额外的风险。
Glory Sun Land Group's Debt And Its 4.6% ROE
荣耀太阳置地集团的债务及其4.6%的净资产收益率
Glory Sun Land Group clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.68. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
荣耀太阳置地集团显然使用了大量的债务来提高回报,因为它的债务与股本比率为1.68。相当低的净资产收益率和大量使用债务的组合并不是特别有吸引力。债务确实会带来额外的风险,所以只有当一家公司从债务中获得一些可观的回报时,它才是真正值得的。
Conclusion
结论
Return on equity is one way we can compare its business quality of different companies. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt.
股本回报率是我们比较不同公司业务质量的一种方式。在我们的账目中,最高质量的公司拥有高股本回报率,尽管债务水平较低。如果两家公司的净资产收益率相同,那么我通常会倾向于债务较少的那一家。
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So I think it may be worth checking this free this detailed graph of past earnings, revenue and cash flow.
但净资产收益率只是一个更大的谜题的一部分,因为高质量企业的市盈率往往很高。重要的是要考虑其他因素,比如未来的利润增长,以及未来需要多少投资。所以我觉得这可能值得一查免费这是过去收益、收入和现金流的详细图表。
But note: Glory Sun Land Group may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
但请注意:荣耀太阳置地集团可能不是最值得买入的股票。所以,看看这份有趣的高净资产收益率和低负债公司名单吧。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对这篇文章有什么反馈吗?担心内容吗?保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
这篇由《华尔街日报》撰写的文章本质上是笼统的。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。简单地说,华尔街在提到的任何股票中都没有头寸。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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